Advanced Flower Capital director buys 34.6K shares

Advanced Flower Capital Inc. (AFCG) insider Leonard M. Tannenbaum, a director and ten percent owner, reported open-market purchases of AFCG common stock.

Rhea-AI Filing Summary

Advanced Flower Capital Inc. (AFCG) insider Leonard M. Tannenbaum, a director and ten percent owner, reported open-market purchases of AFCG common stock. On August 26, 2026, he purchased 19,404 shares at a weighted average price of $3.41 per share, and on August 27, 2026, he purchased 15,202 shares at a weighted average price of $3.46 per share, for total reported purchases of 34,606 shares. The prices reflect weighted averages for trades executed within disclosed intraday price ranges. Separate indirect positions are reported, including 226,907 shares held by his spouse, for which he disclaims beneficial ownership, and 180,400 shares held by the Tannenbaum Family Foundation, where he disclaims beneficial ownership except to the extent of his pecuniary interest.

Insider Trade Summary

Net Buyer: 34,606 shares

Net Buy 4 txns

Insider TANNENBAUM LEONARD M

Role Director, 10% Owner

Bought 34,606 shs ($119K)

Type	Security	Shares	Price	Value
Purchase	Common Stock F2	15,202	$3.46	$53K
Purchase	Common Stock F1	19,404	$3.41	$66K
holding	Common Stock F3	--	--	--
holding	Common Stock F4	--	--	--

Holdings After Transaction: Common Stock — 6,715,051 shares (Direct); Common Stock — 226,907 shares (Indirect, Held by spouse); Common Stock — 180,400 shares (Indirect, See footnote)

Footnotes (4)

1. F1. This transaction was executed in multiple trades ranging from $3.40 to $3.41; the price reported reflects the weighted average price. The Reporting Person hereby undertakes to provide full information regarding the number of shares and prices at which the transactions were effected upon request to the SEC staff, the issuer, or any security holder of the issuer.
2. F2. This transaction was executed in multiple trades ranging from $3.43 to $3.46; the price reported reflects the weighted average price. The Reporting Person hereby undertakes to provide full information regarding the number of shares and prices at which the transactions were effected upon request to the SEC staff, the issuer, or any security holder of the issuer.
3. F3. The Reporting Person disclaims beneficial ownership of these securities, and this report shall not be deemed an admission that the Reporting Person is the beneficial owner of the securities for purposes of Section 16 or for any other purpose.
4. F4. These shares are held by the Tannenbaum Family Foundation (formerly known as the Leonard M. Tannenbaum Foundation), for which the Reporting Person serves as the President. The Reporting Person disclaims beneficial ownership of the reported securities except to the extent of his pecuniary interest.

Key Figures

Shares purchased August 26, 2026: 19,404 shares of Common Stock Weighted average price August 26, 2026: $3.41 per share Shares purchased August 27, 2026: 15,202 shares of Common Stock +4 more

7 metrics

Shares purchased August 26, 2026 19,404 shares of Common Stock Open-market purchase by Leonard M. Tannenbaum at weighted average price

Weighted average price August 26, 2026 $3.41 per share Executed in multiple trades ranging from $3.40 to $3.41

Shares purchased August 27, 2026 15,202 shares of Common Stock Open-market purchase by Leonard M. Tannenbaum at weighted average price

Weighted average price August 27, 2026 $3.46 per share Executed in multiple trades ranging from $3.43 to $3.46

Total shares purchased 34,606 shares of Common Stock Sum of reported open-market purchases on August 26–27, 2026

Indirect holdings – spouse 226,907 shares of Common Stock Held by spouse; beneficial ownership disclaimed by reporting person

Indirect holdings – Tannenbaum Family Foundation 180,400 shares of Common Stock Held by foundation; beneficial ownership disclaimed except for pecuniary interest

Key Terms

weighted average price, beneficial ownership, pecuniary interest, indirect ownership

4 terms

weighted average price financial

"the price reported reflects the weighted average price"

Weighted average price is the average price of a security where each trade or component is counted according to its size, so bigger trades pull the average more than smaller ones. Think of it like calculating the average cost of a grocery haul where items you bought more of have greater influence on the final per-item cost. Investors use it to understand the true average price paid or received, judge execution quality, and compare trading performance against market movement.

beneficial ownership regulatory

"The Reporting Person disclaims beneficial ownership of these securities"

Beneficial ownership means the person or entity that actually enjoys the benefits of owning shares or other assets — such as receiving dividends, voting rights, or price gains — even if the legal title is held in another name. For investors it matters because knowing who truly controls and profits from a company reveals who can influence decisions, exposes potential conflicts of interest or hidden concentration of power, and affects transparency and risk in the stock.

pecuniary interest financial

"disclaims beneficial ownership of the reported securities except to the extent of his pecuniary interest"

indirect ownership regulatory

"ownership type is indirect, including shares held by spouse and foundation"

FAQ

What AFCG insider transactions did Leonard M. Tannenbaum report on this Form 4?

He reported two open-market purchases of AFCG common stock: 19,404 shares on August 26, 2026 at a weighted average of $3.41 per share, and 15,202 shares on August 27, 2026 at a weighted average of $3.46 per share, totaling 34,606 shares purchased.

At what prices were Leonard M. Tannenbaum’s AFCG share purchases executed?

The reported prices are weighted average prices. On August 26, 2026, trades ranged from $3.40 to $3.41, with a weighted average of $3.41 per share. On August 27, 2026, trades ranged from $3.43 to $3.46, with a weighted average of $3.46 per share.

What indirect AFCG holdings related to Leonard M. Tannenbaum are disclosed in this Form 4?

Indirect positions disclosed include 226,907 shares of AFCG common stock held by his spouse, and 180,400 shares held by the Tannenbaum Family Foundation. He disclaims beneficial ownership of the spouse-held shares and disclaims beneficial ownership of the foundation shares except to the extent of his pecuniary interest.

Was Leonard M. Tannenbaum’s AFCG trading under a Rule 10b5-1 plan?

The filing’s Rule 10b5-1 checkbox is marked false, and the footnotes do not state that the purchases were made pursuant to a Rule 10b5-1 trading plan. The transactions are reported simply as open-market purchases.

How many AFCG shares did Leonard M. Tannenbaum buy in total in this Form 4 period?

Across the reported transactions, he purchased a total of 34,606 shares of AFCG common stock in open-market trades on August 26 and 27, 2026, at weighted average prices of $3.41 and $3.46 per share, respectively.

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Available on EDGAR 08/28/2026 - 04:06 PM Accepted by SEC EDGAR 08/28/2026 - 04:05 PM Learn about SEC filing dates

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

TANNENBAUM LEONARD M

(Last) (First) (Middle)

477 S. ROSEMARY AVE.

SUITE 301

(Street)

WEST PALM BEACH FLORIDA 33401

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
Advanced Flower Capital Inc. [ AFCG ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
08/26/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	08/26/2026		P		19,404	A	$3.41(1)	6,699,849	D
Common Stock	08/27/2026		P		15,202	A	$3.46(2)	6,715,051	D
Common Stock								226,907	I	Held by spouse(3)
Common Stock								180,400	I	See footnote(4)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. This transaction was executed in multiple trades ranging from $3.40 to $3.41; the price reported reflects the weighted average price. The Reporting Person hereby undertakes to provide full information regarding the number of shares and prices at which the transactions were effected upon request to the SEC staff, the issuer, or any security holder of the issuer.

2. This transaction was executed in multiple trades ranging from $3.43 to $3.46; the price reported reflects the weighted average price. The Reporting Person hereby undertakes to provide full information regarding the number of shares and prices at which the transactions were effected upon request to the SEC staff, the issuer, or any security holder of the issuer.

3. The Reporting Person disclaims beneficial ownership of these securities, and this report shall not be deemed an admission that the Reporting Person is the beneficial owner of the securities for purposes of Section 16 or for any other purpose.

4. These shares are held by the Tannenbaum Family Foundation (formerly known as the Leonard M. Tannenbaum Foundation), for which the Reporting Person serves as the President. The Reporting Person disclaims beneficial ownership of the reported securities except to the extent of his pecuniary interest.

Remarks:

	/s/ Gabriel A. Katz, as Attorney-in-Fact	08/28/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)